Nobody downloaded yet

Business Ethics - Friends of Angelo - Research Paper Example

Comments (0) Cite this document
Summary
Angelo Mozilo, who was the chief executive at Countrywide Financial, the biggest mortgage lenders in the United States, engaged various V.I.P personalities in trading favours for loans at abnormally favourable terms. This V.I.Ps included politicians, business partners and…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97% of users find it useful
Business Ethics - Friends of Angelo
Read TextPreview

Extract of sample "Business Ethics - Friends of Angelo"

Download file to see previous pages In this case, the judge needed funds to finance an expansion project he was undertaking for his house at Sherwood Country Club in Westlake Village. He got the loan from Countrywide Financial, but the terms raised eyebrows for any keen eye. The terms were too good as compared to that offered to other borrowers. This favour was extended to the judge so that the same favour may be shown to the company. This was because the firm was being charged in the appellate court by borrowers who felt dissatisfied by what the firm had paid as settlement fees. Aldrich was part of a three-man bench that sure enough rejected the appeal of the borrowers. The fact that the judge failed to mention his previous contact with the defendant company was unethical and against the codes of conduct of a judge. As a judge, he ought not to have received any favours or loan in the terms he did knowing that the company had a case pending in his court (Ferrell et al., 2013).
This was replicated with all the leaders Angelo deemed fit to orchestrate the company’s progress. These leaders are called and appointed the servants of the people to have the interest of the ordinary populace at heart, but instead they have misused their powers to pursue personal gain. Leaders in this case acted in corrupt manners by conducting underhand deals that would otherwise not be permissible. They ignored and neglected their oaths of office by using the office powers not in service to their country or its people as intended by the law, but in service to themselves (Ferrell et al., 2013).
The implications on society of such conduct are, for example, mistrust of those in power. For if a judge, a person who is given the power to condemn, cannot check himself to know when he is going wrong then how can he judge others? It is then the biblical case of the blind leading the blind into a ditch. Greed has obviously blinded many leaders to such an extent that the boundary of what is ethical and unethical ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Business Ethics - Friends of Angelo Research Paper”, n.d.)
Business Ethics - Friends of Angelo Research Paper. Retrieved from https://studentshare.org/business/1674371-business-ethics-friends-of-angelo
(Business Ethics - Friends of Angelo Research Paper)
Business Ethics - Friends of Angelo Research Paper. https://studentshare.org/business/1674371-business-ethics-friends-of-angelo.
“Business Ethics - Friends of Angelo Research Paper”, n.d. https://studentshare.org/business/1674371-business-ethics-friends-of-angelo.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Business Ethics - Friends of Angelo

Business ethics

...Business ethics This study will analyze the concept of business ethics by giving a definition of the term and the various levels of business ethics. In addition, the study will focus on the importance of business ethics to any business. Moreover, the study will explore the relationship between business ethics and profitability of the business. Introduction Business ethics can be defined as the morality that results from a person’s own moral standards in the context of the environment in which the...
4 Pages(1000 words)Research Paper

Business Ethics

...?Introduction Over the last two decades or so, consumers in industrial economies are becoming more aware of the origins of the goods they are consuming. The increasing information flow has made it possible for consumers to ethically evaluate the practices of the firms involved in buying and selling of such products and have relatively changed their buying behavior to account for for their ethical responsibilities. The increasing focus on stakeholders therefore have helped institutionalization of ethics into modern businesses as firms now increasingly view a diversified group of consumers, suppliers, employees, shareholders, government etc. as their stakeholders. This view...
7 Pages(1750 words)Research Paper

Business Ethics

...? TEACHER 17 May Business Ethics Case Study This was an interesting case study where business and legalethics are to be considered. The issue in all four of these questions lies in the notion of whether an individual should receive preference over the masses, or should the interests of the masses be considered first. As with most ethical decisions, there is likely no one solid answer, but I have done my best below to provide some possible courses of action that the judge in this case could consider. Question 1 In this situation, Mr. Groetsch has done nothing wrong. As such, he is under no obligation to allow other people to handle his personal fight against Securities America. He is convinced that he has been financially damaged... as a...
5 Pages(1250 words)Case Study

Business Ethics

...?Business Ethics Table of Contents Introduction 3 Thesis ment 3 Explanation to the Case at Hand 4 Theoretical Explanation 5 Utilitarianism and the Principle of Utility 5 Deontology or Dignity of Persons Principle 5 Virtue and the Right Formation of Character 6 Theoretical Justification and Identified Consequences 6 Conclusion 8 Works Cited 9 Introduction With the increasing pace of development, organizations seek to evaluate a widespread structure of various operations. According to the present day context, it can be observed that the global organizations significantly implement various strategies with the intention to gain incessant developments in relation to its various functions with due consideration...
5 Pages(1250 words)Term Paper

Business Ethics

...? BUSINESS ETHICS Table of Contents Table of Contents 2 Introduction 4 Product & Service Mix 4 Brief SWOT Analysis 4 Business Ethics 5 Theoretical Perspective of Business Ethics 7 Code of Conduct for HSBC 8 Corporate Governance 8 Conduct for Suppliers of Goods and Services 10 Economic 10 Environmental 11 Social 11 Employment Conditions 11 Community 11 Telemarketing 12 Regulatory Reform 15 Volcker Rule 15 Security 16 Conclusion 16 Introduction HSBC Holdings Plc is a well known multinational financial and banking service provider located in United Kingdom. The organization is headquartered at Canary Wharf, London, United Kingdom. HSBC Holdings Plc was founded by Sir Thomas Sutherland in the year 1865. Officially HSBC Holdings Plc... by...
13 Pages(3250 words)Essay

Business Ethics

...? (Assignment) Business Ethics I According to Kant’s principles, it is the intention behind an action, not its consequences, that makes the action good. In other words, persons of good will do their duty because it is their duty to do so. Kant identified two kinds of duty (imperatives). The first one is hypothetical imperative which states “if you want to achieve Y, do A”. For example, to achieve good grades, one requires to study. The other group of duty is categorical in nature, and is based on the fundamental principles of ethics. In this case, there are no ifs and buts. However, a close look reveals the fact that applying Kant’s principles into the modern business world is a tough task due to many reasons. The first such issue... of the...
6 Pages(1500 words)Essay

Imaginary friends

...Imaginary friends Table of contents 2. Introduction. 3. Findings. Reasons and consequences. 4. Conclusion. 1. Scientific research regarding significance related to human development shows that vast majority of preschool children have imaginary friends. The children can chat with them, play, have dinner and sleep. "It's natural to talk a lot about those you love, but one little girl we know constantly chatted about her "husband" and her "daughter." Sometimes it seemed that was all she talked about...and she was only 3 1/2 years old!" (Dealing With Imaginary Friends). This situation is rather usual and typical for many families....
10 Pages(2500 words)Essay

Business Ethics & Professinal Ethics

...Ethical It is important to have a professional ethical These s help dictate ethical practices for all matters of business. My professional ethical code will revolve around justice, since I wish to become a police officer or a FBI agent. In this paper, I will describe a professional code that will best serve a police officer or a FBI agent. The code I will present is based on a personal code. Even if some of my ethics coincide with present ethical codes, these codes are what I feel should be implemented in my field of profession. Core Value My core value would be justice for all. This is a broad core value, but...
5 Pages(1250 words)Essay

Castel sant's angelo

...Castel Sant’s Angelo Introduction Castel Sant’ Angelo s back to the period of the Roman Empire but has been greatly transformed over centuries since then. It holds great historic value and is known to be one of Rome’s finest original monuments. Presently, it has a complex and charming structure which contributes to the different level of architecture of modern era. The castle is the evidence for the sedimentation of ancient times; hence throughout history this building has played an essential role. In AD 123, the emperor Publius Aelius Hadrianus desired for a tomb which would contain his and his successors’ ashes (Sear, 1983). The monument was constructed on a special site which was on the river edge...
2 Pages(500 words)Essay

Friends of Angelo

.... The actions of this company were also hurtful to other stakeholder groups of Countrywide particularly the shareholders and employees. The stock price of the company plummeted by 86% and the firm fired 11,000 employees (Cengage). Angelo Mozilo is an example of everything that is wrong with corporate America. Companies that lack leadership such as Countrywide have a very low chance of succeeding in the long run. References Cengage.com. Business Ethics Video: Countrywide Financial – Securities Fraud. Retrieved February 9, 2015 from http://www.cengage.com/custom/static_content/OLC/business/1285616928_ashford_university/countrywide_financial_fraud_cc.html Schermerhorn, J.,...
1 Pages(250 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Research Paper on topic Business Ethics - Friends of Angelo for FREE!

Contact Us